HomeMy WebLinkAboutCOM 0349.773 2006-2008 Small Business Loans Sea Mountain will set up a fund to make small lwsiness loans to local entreprenews to
help set up their own twsinesses.
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Community Benefits Sea Mountain wiU create a community benefit fund that wUl give mdlro~5§ of ~Ila~~~b 7
Package the community, and will he controlled by the local community. This fund will support schools,
medical facilities and other focal programs such as sports prog faQtS for children arni
programs for the elderly. The funds will come from the following sodr$r3~'drrfing construction:
$1,000,000 will be contributed to the Community Fund upon final approval of the ;.MA
permits including any court actions.
• $1,000,000 will be contributed to the Community Fund priorto obtaining a grading permit
for the start of construction.
• Sea Mountain will contribute 0.3% of the gross sales price from the initial sale of each
residence or lot sold.
Upon completion of the construction of units or the opening of businesses, funds will o7me
from the following sources through the life of the Sea Mountain project.
• 1 % of the gross sales price of the resale of any house or lot.
• $3.00 for every night any hotel room is rented.
• $1.00 for each round of golf played. -
• $3.00 per month per unit from every homeowner's association fee.
Over the first 15 years of construction and operations, it is estimated that Sea Mountain will
contribute approximately $12 million into the Community Fund.
Endangered Plants Sea Mountain is committed to protecting all endangered species and plants through our
and Species partnership with Jean-Michel Cousteau and his Ocean Futures Society. Through this group,
Sea Mountain will create established ocean and land programs to protect and s6~dy the
endangered species in Punalu`u.
Historical and Sea Mountain will provide needed infrastructure and some construction for the Cultural Center
Cultural Sites and work closely with the community to develop programs that will perpetuate the
Hawaiian culture and history to educate the children of Ka'u and its visitors. Sea Mountain
will provide enhanced protection and access to all heiau and culturally significan': sites
on the property.
Educational Programs Sea Mountain is working with Jean-Michel Cousteau and his Ocean Futures Society to
develop educational programs about the environment to teach the children of f(a`u how to
protect the land and the ocean. The Ambassadors of the Environment program, recantly put
on in June by Ocean Futures for 40 local children at no cost, is an example of this program.
Again, we have made these commitments publicly and in front of the Hawaii County Council on June 19, 2007. I'` we
don't live up to these commitments we expect the community, County Council and the Planning Commission to inject the
approvals necessary for us to redevelop the property
Bottom-line: Our goal is to work with the people of Kau, to redevelop Punalu'u to provide jobs for the people and
protection for the aina, the ocean and the culture that makes Punalu'u so special.
Aloha,
Pat Blew No, T_
Managing Partner Ref. To:.~u~q~/
Sea Mountain Fwe LLC Ref. Dale: ~ -
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